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DeFi
DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.
Three Arrows Backs Money-Streaming Mean DAO to Boost DeFi Payments on Solana
The $3.5 million funding round included SoftBank and DeFiance Capital.
Elrond Leapfrogs Into DeFi’s Top 10 as Users Chase Ridiculously Large Incentive Program
What was a $1.29 billion sweetener package when announced is now worth $7.32 billion as the MEX token surges. It has dragged an afterthought chain’s TVL into the big leagues.
German VC Greenfield One Raises $160M Crypto Fund With Backing From Swisscom, Others
The VC’s third fund is its biggest yet, and most likely one of the largest crypto funds in Europe.
El Salvador Wants to Build ‘Bitcoin City’ With Major Tax Incentives
El Salvador, the only country where bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency by market value. “Bitcoin City” will have no income, property, capital gains or payroll taxes.
Rari Capital, Fei Protocol Look to Overcome Bagholder Bias in Ambitious DeFi Merger
Two teams are looking to form a $2.4 billion DeFi powerhouse. What’s the holdup?
Crypto Options Traders Turn to DeFi for Altcoin Bets as QCP Slings $1B
The Singapore-based firm QCP now trades more than $1B of crypto options per month using decentralized financial applications, including $1 million worth of AAVE options recently with Ribbon Finance.
Another E-CNY Scam Busted, SCMP to Tokenize History
Inner Mongolia e-CNY scam busted. Hong Kong’s South China Morning Post to release news archives as NFTs. DeFi emerges as an enabler for pricing assets. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
French Fintech Lydia Taps Bitpanda to Let 5.5M Users Trade Crypto
Austrian crypto exchange Bitpanda, the country's first tech unicorn, has teamed with French mobile payments app Lydia to offer its 5.5 million users the ability to invest in over 170 crypto assets. Bitpanda Chief Product Officer Lukas Enzersdorfer-Konrad shares insights into the partnership, France's regulatory reception to crypto, and the state of DeFi in Europe.
